Date Posted: 31 May 2019
ADA FARM AGRI VENTURES
TheCommission has received information that individuals or group of persons representing ADA FARM AGRI VENTURES(“ADA FARM”) are enticing the public to invest in the said entity.Based on the information gathered by the Commission, ADA FARMentices the public to invest by purchasing a minimum of ten (10) chicks worth Php500.00 with a guaranteed profit of 80% in 60 days.The public is hereby informed that while ADA FARMis not registered with the Commission as a corporation or partnership and is NOTauthorize to offer, solicit, sell or distribute any investment/securities. Such activities require a Secondary License from the Commission and the securities or investment product should likewise be registered with the SEC before they can be offered or sold to the public under Sections 8 and 12 of the Securities Regulation Code (SRC).Consequently, those who act as salesmen, brokers, dealers or agents of ADAFARMinselling or convincing people to invest in the investment scheme including solicitations or recruitment through the internet may likewise be prosecuted and held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Millionpesos (P5,000,000.00) or maximum penalty of Twenty One (21) years imprisonment or both pursuant to Section 73 of the SRC.Accordingly, those who invite or recruit other people to join or invest in this venture or offer contracts or securities to the public may be held liable or accordingly sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos (G.R. No. 195542, 19 March 2014)Furthermore, the names of all those involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.In view thereof, the public is hereby advised to exercise caution before investing in these kinds of activities and to take the necessary precaution in dealing with ADA FARMor its representatives.Should you have any information regarding the operation of the subject entity, please call the Enforcement and Investor Protection Department at telephone numbers(02) 818-6337 and (02) 818-6047.For guidance of the public.